Comments by "D W" (@DW-op7ly) on "Chinese economy sees slower-than-expected growth" video.

@michaelgothenburg364 better than what we got and you know it That’s why you are in Asia working
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@rodneyramsay5561 you have no clue what you are talking about Who are you speaking to? 90% of Chinese families own a home They just surpassed the USA as the wealthiest country in the world This current slowdown is for the few hundred million rural folks looking to move to the cities and find a new home
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The western multinationals went to China at the time because of their weak labour laws, weak environmental laws, mass pool of cheap labour they could pay dollar a day wages to And yes weak IP laws that went along with it In exchange the western multinationals traded knowledge and investment This was nothing new, the west goes to 3rd world or developing nation takes advantages of this country until the locals complain about wages, pollution, or environmental damages. Western multinationals would just pick up and run for it. I would argue yes they expected the Chinese to buy 1 billion toothbrushes and 2 billion socks But they didn’t expect them to enrich themselves My evidence is even before the west pushed for Chinese WTO inclusion the Top of the food chain 1%ters and their TooBigTooFail Investment Banks worked out the worst deal ever for themselves Where these TooBigTooFail Investments Banks got a 33% interest in a “Joint Venture Chinese Investment Banking Subsidiary.” Where the Chinese Bank got a 67% Difference is the Chinese didn’t complain they put up with those dollar a day wages making 22 times less than what an average American worker made. Yet saved 30% of those wages over 30 plus years. Indirectly loaning those saving to those Americans so they could spend their savings and borrow to spend some more. While the Chinese invested or made a business with their savings Where the Chinese lowered their standards of living while the Americans/us westerners were able to raise our standards of living with those cheaper goods
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@SCrossiFication Americans be bad at math China GDP today is 18 trillion it was10 trillion in 2014 Take 5% of 18 trillion Then take 7% of 10 trillion And compare the numbers China GDP growth was actually 7% in 2014 Btw GDP is a horrible metric The USA GDP is a vaunted 29 trillion But at the end of the day you Americans have to borrow 1 trillion every 100 days to keep the economy afloat
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@rodneyramsay5561 I was watching a documentary some westerner who had come back to the poorest village in China 1 year later As he walks in on a Poverty Alleviation Senior Social worker berating 5 or 6 Poverty Alleviation social workers because a deadline was fast approaching and they had a quotas to meet getting people in the village above a poverty line or they all including this Senior Social worker would get demoted/fired Where they for example had to make sure the villagers were signed up for some State healthcare plan where the State paid 95% of the bills Then this guys follows one social worker as he shows him the newly paved roads and new houses and the donated furnishings in a home Even with all that you could get a sense of fear and worry in this guy demeanour. As we find out he was some Government banking official who was demoted to this job And the only way you move back up is to meet your deadlines and quotas Is this a better system than we have in the west? Depends on if our Government is willing to build roads and houses for people with little expected return. And put peoples jobs on the line to get those results Type into a YouTube Search “Revisiting China's poorest village”
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@rodneyramsay5561 I wouldn’t trust Anything Mainstream Media tells me about China That’s the real irony people like you wouldn’t believe a single thing Mainstream Media tells you Unless it’s about China Here something they won’t tell you to make up for pension shortfalls in China as people move into cities. They are looking into centralizing their Pension system. In the meantime they transfer money and assets from State owned enterprises into their Pension system They are more likely to be the ones who give a universal basic income as AI takes over their country and the world for that matter 👇 Through a central coordination mechanism, over 930 billion yuan ($147.58 billion) from the national pool went to make up for the shortfalls of local pension schemes last year alone. China's basic old-age insurance, a key program to ensure people's well-being after retirement, has been evolving to a larger-scale management system since its establishment in the 1990s. The central coordination mechanism was set up in 2018 as the first step prior to building a national system to further address unbalanced pension burdens nationwide. But issues deriving from disparities in regional economic development and demographic structure still exist. "Some regions have more surpluses, while the others with older populations are under heavier pressure to make pension payments," said Qi Tao, an official from the Ministry of Human Resources and Social Security. In 2021, over 210 billion yuan from the coordination mechanism went to the central and western regions as well as the northeastern "rust belt" provinces, as a greying population weighs on their pension payments and growing labor outflows squeeze pension income. Using a nationwide chessboard as a metaphor, the head of the China Association of Social Security Zheng Gongcheng said the new national system will make the pension benefits fairer. "People won't need to sacrifice their pensions for migrating to work, and retirees won't have to deal with the risks from local pension fund shortfalls." Qi said a mechanism that assigns the respective expenditure responsibilities of central and local governments on pension funds will be built after the national program comes into force and the central government will not roll back its subsidy to the pension funds. Apart from the coordination efforts and central subsidy, state assets totaling 1.68 trillion yuan from 93 centrally-administered enterprises and financial institutions have also been transferred to replenish the pension schemes. GOV . CN
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@rodneyramsay5561 here is one thing you don’t get this recent China slowdown was for the people at the bottom of their society as 200 million rural folk are still expected to migrate to the cities rural folk are less well off than their city folks But Mainstream Media will give you all this doom and gloom China bout to crash In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities That’s why you are hearing about problems with their property developers these days. Because back in 2010? Their Central Government started cutting of money flow to these developers. Thus why you heard about Shadow Banks and Underground Economy back then, that their Government had to come into to shutdown or regulate. Even then, It took them almost 14 years to get their overheated real estate under control Heck they were about to introduce a nation wide property tax, but then trump started the trade war in 2018 Why is their Central Government doing this? Because there are still a few hundred million poorer rural folk they still expect to move to the cities to join their more well off urban city folk countrymen. Problem is these property developers were building higher end homes, and not building the affordable homes these rural migrants will need In China Owning a home in the city you migrate to? Affects your employment, health, education and even marriage prospects don’t have a house you don’t get married Thus the common prosperity push and the crackdown on the overt displays of wealth in China Their Government probably figured out you disenfranchise the people at the bottom of your society they are the ones most likely to act out in protest
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@michaelgothenburg364 dude you sound like a white separatist who went to Asia to find a wife
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@michaelgothenburg364 I was an expat in Asia as well White separatist like you who go to Asia to find a woman??!!!… they usually end up with Asian women who hate: their own people culture and country And their own slan Ted eyes I say all the power to you You are two consenting adults But then your types always seem to want to have kids Gawwwd help that kid, if your pairing Brings forth a boy and turns out to be Asian looking 🙄🙄🙄 Since it’s such a shocker the kid would look Asian when you marry an Asian women Then you have HA PA hor ror stories that had to be taken down off Reddit Or Elliot Rodgers clones You were a English teacher in China buddy That only makes you special because they want to learn another language over there
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@okman9684 really GDP is a horrible metric The USA GDP is a vaunted 29 trillion Yet they have to borrow 1 trillion every 100 days to prop up the economy The Chinese are adding 2 billion a day to their economy with just their trade surplus with the world every day The Chinese purposely cracked down on their real estate sector recently because of overheating bubbles/speculation The USA in 2019 had to come back in and do anotherQE2 where the US FED has to buy even more newly issued Sovereign debt by the US Treasury To be fair some of that was Covid related but the credit market was freezing up well before the pandemic reached the USA As Americans were still doing “but shot beer chasers” off each other, during Spring Break of 2020
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@riojaneiro4130 China is actually still considered a developing country 👇 How China is classified Beijing classifies itself as a "developing" country in the WTO. However, the World Bank and U.N. Development Program classify China as an "upper middle income" country, while the IMF calls the country an "emerging and developing economy. VOA
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serriajohn How Much Money Does the World Owe China? Our research, based on a comprehensive new data set, shows that China has extended many more loans to developing countries than previously known. This systematic underreporting of Chinese loans has created a “hidden debt” problem – meaning that debtor countries and international institutions alike have an incomplete picture on how much countries around the world owe to China and under which conditions. In total, the Chinese state and its subsidiaries have lent about $1.5 trillion in direct loans and trade credits to more than 150 countries around the globe. This has turned China into the world’s largest official creditor — surpassing traditional, official lenders such as the World Bank, the IMF, or all OECD creditor governments combined. Despite the large size of China’s overseas lending boom, no official data exists on the resulting debt flows and stocks. China does not report on its international lending, and Chinese loans literally fall through the cracks of traditional data-gathering institutions. For example, credit rating agencies, such as Moody’s or Standard & Poor’s, or data providers, such as Bloomberg, focus on private creditors, but China’s lending is state sponsored, and therefore off their radar screen. Debtor countries themselves often do not collect data on debt owed by state-owned companies, which are the main recipients of Chinese loans. In addition, China is not a member of the Paris Club (an informal group of creditor nations) or the OECD, both of which collect data on lending by official creditors. HarvardBusinessReview 👇 What is the volume of Chinese loans in Africa? The Chinese press agency Xinhua gives lower figures on the extent of Chinese loans: “A report published last July by the British NGO Debt Justice showed that 12 percent of the external debt of African countries is owed to Chinese lenders, compared to 35 percent to Western private lenders. The average interest rate of these private loans is 5 percent, compared with 2.7 percent for loans from Chinese public and private lenders.” Source: Xinhua, Key Facts U.S. Deliberately Ignores about African Debt, 7/02/2023. Cadmium
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